Almatis unveils bankruptcy-exit financing

Almatis Group said it has lined up $592m to fund a potential restructuring plan that would see it exit bankruptcy under the ownership of Dubai International Capital.

By

Dow Jones Daily Bankruptcy Review

July 21, 2010 6:51 pm GMT

Almatis Group said it has lined up $592m to fund a potential restructuring plan that would see it exit bankruptcy under the ownership of Dubai International Capital.

In court papers filed Monday, the aluminum company said it expects to ask the bankruptcy court shortly for permission to strike a deal with various firms that are willing to back the Chapter 11 plan of reorganization that current Almatis owner Dubai International Capital wants to sponsor.